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THE STORY BEHIND ATOMIC JUNCTION EXPLOSION

The twin explosion which occurred at the Atomic Junction on 7th October, 2017, had many concerns raised once again, as it was the eighth to have occurred in the past three years. Most of the issues are directed at the planning regulations and policies to control the development of these filling stations, but there is more to that. GhanaCompares.com blog team is here to update you. What about the lives lost? What about the medical bills? What about the damaged property? According to George Owusu,…
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Personal Factors That Affect Insurance Rates in Ghana

For someone who holds an insurance policy, the cost that you bear is the premiums you pay to the insurance company. To the insurance company, the receipts from the person insured must be adequate to cover the risk of a misfortune happening to him or her. The person purchasing the insurance policy reasonably wants to reduce the premiums he or she will pay while the insurance company wants to maximize the premiums they will be receiving. In order to reach a price that will be agreeable to both parties,…
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How to Choose the Right Insurance Company in Ghana

If one were to make the choice about a partner who will be there for them when they are at their weakest, it is obvious that such a choice will take some time. One therefore wonders why many people in Ghana do not take enough time to choose the insurance company which they buy a policy from. Think about it, an insurance company is basically going to be your life line in the event of a huge misfortune then you want to have the best possible insurance company at that time not a company you just…
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Keeping Track of Your Insurance Policy

If you are like most people in Ghana, once you sign up for an insurance policy you do not take the trouble to make regular enquiries about what is happening. In fact, you only take note of your policy when you have to make premium payments or even worse, when you need to make a claim. This may not look like a big deal at first glance, but this article will explain why it is dangerous and what one can do to avoid it. For far too many people in Ghana, it is only when an unfortunate incident happens…
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Is insurance a scam? 

A popular but unfortunate perception among some people in Ghana is that the whole business model of insurance is a scam. Just search for “insurance” and “scam” on google and you will be sure to see several arguments by people in conspiratorial tones about how the insurance companies do nothing but take people’s money in the form of premiums and give nothing back. To be fair, some insurance companies do nothing to prevent this kind of perception. They offer bad policies that are expensive…
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Keeping Track of Your Insurance Policy

If you are like most people, once you sign up for an insurance policy you do not take the trouble to make regular enquiries about what is happening. In fact, you only take note of your policy when you have to make premium payments or even worse, when you need to make a claim. This may not look like a big deal at first glance, but this article will explain why it is dangerous and what one can do to avoid it. For far too many people, it is only when an unfortunate incident happens and they try to…
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6 tips for your insurance

The private health insurance in Ghana has been authorized by the National Health Insurance Act, 2012(Act852) which is being regulated by the National Health Insurance Authority Insurances are done in order to plan ahead or protect one in times of unexpected calamities. Many Ghanaians also insure themselves to avoid surprises. However, there is the need to know the various policies that these insurance covers as well as the cost of the insurance which could be affordable to Ghanaians. GhanaComapres.com…

Why big banks in Ghana are fleeing the mortgage market

When it comes to residential mortgages, big banks in Ghana are waving the white flag. The increasing housing deficit in Ghana raises much concern about the need to delve into housing delivery in the country. The annual housing demand of about 100 000 units is not being met, as about only 40 000 housing units currently being delivered per annum. It is worth stating that, government has over the years made some provisions to reduce the housing in the country. Players include the Social Security…
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Banks with top three highest mortgage loans

The latest Annual Percentage Rate (APR) and Average Interest (AI) report by the Bank of Ghana has shown that GCB Bank offers the highest interest on mortgages as at the end of February. Potential home buyers would be charged as much as 40.3 percent on loans they contract from the bank. Meanwhile Bank of Baroda will offer you the lowest interest rate on your home loans as you will be charged between 24.5 and 28.8 percent. The infograph below gives the top three high offering interests on…
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How to decide between building and taking a mortgage

There are generally four ways by which people in Ghana acquire property. They can inherit it, build it, buy it straight out or acquire it by taking a mortgage. Since not everyone has the fortune of inheriting property and very few people in Ghana can afford to buy property outright, this article will focus on building and acquiring property by taking a mortgage. Building a property is arguably the most popular way through which Ghanaians acquire property. The building is usually completed over…